MANILA WATER Company, Inc. (MWC) has been awarded joint venture agreements by Lambunao Water District (LWD) and Calinog Water District (CWD) for two separate water supply systems in the province of Iloilo.
In a disclosure to the stock exchange on Wednesday, the Ayala-controlled water concessionaire said it received the Notice of Award from the LWD for a joint venture for the design, construction, rehabilitation, maintenance, operation, financing, expansion, and management of the municipality of Lambunao’s water supply system.
MWC and LWD are set to enter into a joint venture agreement for the project, to be handled by Aqua Centro MWPV Corp., a wholly-owned unit of Manila Water Philippine Ventures, Inc. (MWPV). In turn, MWPV is a wholly-owned subsidiary of MWC.
In a separate disclosure, MWC said it has also entered into a similar agreement with CWD. Here, the listed firm will form a joint venture with CWD for the design, construction, rehabilitation, maintenance, operation, financing, expansion, and management of a water supply system in the municipality of Calinog.
Aqua Centro will also be the one to undertake the project.
MWC holds the water concession for the eastern side of greater Manila. Last month, it also announced the construction of a P742-million water supply system in San Fabian town in Pangasinan. MWPV will handle the project, which is expected to be operational by 2019.
The company has also been recently awarded a water supply project from the Tanauan Water District, where MWPV will design, improve, upgrade, rehabilitate, and expand the town’s water supply and sanitation facilities.
MWC booked an attributable profit of P4.93 billion in the first nine months of 2018, flat from the P4.89 billion it realized in the same period a year ago. Gross revenues meanwhile rose by seven percent to P14.43 billion.
Shares in MWC climbed 2.15% or 55 centavos to close at P26.10 each at the stock exchange on Wednesday. — Arra B. Francia
